My partner and I are hoping to acquire a home in Welwyn Garden City and have instructed a Welwyn Garden City conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Santander have this evening contacted us to advise us that there is now an issue as our Welwyn Garden City lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Welwyn Garden City lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
When will exchange of contracts take place for domestic conveyancing in Welwyn Garden City and do I need to be at the solicitors branch?
Where you are in close proximity to our conveyancing solicitors in Welwyn Garden City you are welcome to attend to sign contracts. That being said, the firms we work with offer a countrywide conveyancing service and provide just as detailed and professional a job for you when dealing with you digitally. The executing of the sale agreement is not the important part. A signed contract is just a prerequisite for the firm to officially exchange at the appropriate time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Welwyn Garden City)to be in the office at the appropriate time.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Welwyn Garden City is the location of the property. Can you offer any guidance?
Flying freeholds in Welwyn Garden City are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Welwyn Garden City you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Welwyn Garden City may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm remortgaging my existing home to a BTL loan with Chelsea Building Society and intend to use the remaining equity as a down payment on another house. The area we are looking at is Welwyn Garden City. Will your lawyers be able to act for both sets of banks and link together the conveyances?
Do use our search tool on this site to be sure that the lawyers are approved by both mortgage companies. Having checked that they are your lawyer should be able to connect the two transactions but you should have a chat with you conveyancer and specify your desired outcome and needs.
I am four weeks into a freehold purchase having been directed to conveyancers by the estate agent to do our conveyancing in Welwyn Garden City. I am am very dissatisfied with the quality of service. Could you help me find new lawyers?
They would need to be very bad in order to consider replacing them. Has your mortgage offer been issued? In the event that it has you need to advise them of the new contact details and have the mortgage documents are re-issued. Your new solicitor ideally needs to be on the mortgage company panel to avoid supplemental costs and frustration. So that should be your first question of the new conveyancers. Our find a solicitor tool will assist you in finding a bank approved conveyancer for your conveyancing in Welwyn Garden City